The Thai Baht has continued its decent in 2020 as it weakens against many of the world’s primary currencies. The spread of Coronavirus (Covid-19) is a contributing factor to the continually weakening Baht.
Yesterday, the currency closed at 31.70 against the US Dollar ($USD). Other currencies such as the Chinese Yuan are also plummeting as Covid-19 spreads out of China and takes hold in South Korea and Italy among other countries.
The Thai Baht had been trading at 31.62 against the US Dollar ($USD) last week. It is expected to close within a range of 31.40 to 32 against the US Dollar ($USD) by the end of this week.
The weakening Thai Baht could be good news for ex-pats who regularly transfer money into the country after an extremely strong year for the Thai currency in 2019 finally lets off.
See the latest exchange rates between the Thai Baht and US Dollar here.